The Cabinet Committee on Economic Affairs, headed by Prime Minister Narendra Modi, has approved an increase in the Minimum Support Prices (MSPs) for copra in the upcoming 2024 season.
The move aims to enhance the income of coconut growers across the country. The approved MSPs are Rs 11,160 per quintal for milling copra and Rs 12,000 per quintal for ball copra, reflecting a hike of Rs 300 and Rs 250 per quintal, respectively, compared to the previous season.
This decision follows the recommendations of the Commission for Agricultural Costs and Prices (CACP) and considers the perspectives of major coconut-producing states.
The government’s commitment to setting MSPs at a minimum of 1.5 times the all-India weighted average cost of production, as outlined in the Budget 2018-19, underpins this adjustment.
Last year, the MSP for milling copra saw a raise of Rs 270 per quintal, while ball copra witnessed a substantial increase of Rs 750 per quintal.
The National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers’ Federation (NCCF) will continue to play pivotal roles as Central Nodal Agencies (CNAs) for copra and de-husked coconut procurement under the Price Support Scheme (PSS).